LendingClub (NYSE: LC) was founded in 2007 under the belief that a technology and data-driven marketplace can improve the way people access and invest in credit, creating value for both sides. Since then, we've helped millions of Americans take control of their debt, pursue their dreams, and invest in their future – all in a fair, transparent, and affordable way. Today we’re America’s largest online credit marketplace, facilitating billions of dollars in loans annually, and we’re leading the governance of a new industry by developing ethical, responsible ways to bring greater value and better opportunities to our members. Everyone deserves a better financial future and our team is committed to making that a reality.
About the Role
LendingClub is looking to hire an experienced Fixed Income Valuation Manager to lead the Valuation function as a part of the Accounting/Finance department. This is a critical role for supporting the accurate valuation of LendingClub's expanding line of fixed income products held on the Corporate balance sheet, servicing rights for fixed income products serviced for others and other valuation requirements. This is a highly quantitative role.
What You'll Do
- Manage/perform valuations of various types of consumer loans, securities, servicing rights, and derivatives.
- Maintain and implement recurring updates to LendingClub's valuation models; maintain valuation model documentation.
- Model, analyze, validate and implement enhancements to LendingClub's valuation assumptions, methodologies and practices in concert with team members and other teams.
- Conduct valuation analytics within and across portfolios and identify drivers of valuation changes.
- Partner with LendingClub's Risk Management team to implement high quality default and prepayment forecasts for use in valuations.
- Routinely analyze and explain key changes in valuations against performance expectations.
- Identify and analyze valuation drivers in valuation sensitivity analyses.
- Provide support to consultants on valuation consulting assignments, periodic validation of valuation models and periodic independent valuation benchmarking.
- Support and respond to reviews of valuation models, processes and results by internal and independent auditors.
- Collaborate with business partners to ensure compliance with corporate accounting policies, procedures, and controls
- Assist with reporting and analytics and complete ad-hoc projects as necessary.
- Further the quantitative and fixed income expertise of the team.
- Strong quantitative skills.
- 4-7 years of applied experience, preferably in the financial services industry.
- Strong knowledge of principles of fixed income analytics including yield/price/return analyses, credit risk and prepayment modeling, option-adjusted spread analytics, relative value analysis and portfolio modeling.
- Experience with fixed income cash flow modeling and approaches to discounting cashflows.
- Experience with statistical applications, preferably in the context of credit risk modeling and/or fixed income valuation.
- Understanding of the relationship between delinquencies, roll rates and borrower default probabilities.
- Understanding of the drivers of borrower prepayment behavior.
- Experience in using, building, reviewing, validating and/or implementing fixed income models.
- Exposure to SQL and one of SAS, R or other equivalent data analytic tools.
- Ability to manage a direct report and collaborate with business partners.
LendingClub is an equal opportunity employer and dedicated to diversity and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender identity, sexual orientation, age, marital status, pregnancy status, veteran status, or disability status. We believe that a variety of perspectives will make our teams and business stronger as we work together to transform the traditional banking system.